Qatar’s main stock index jumped 4.64% on Sunday to its highest close since September 17, outpacing other Gulf markets, where benchmarks in Kuwait and Oman ended lower.
The Qatar index gained 424.30 points to close at 9,575.48, with broad buying in leading stocks, Al Arabiya reported. The rise narrowed the index’s loss since the start of the year to 11.03%.
Ashraf Jarrar, an international markets and asset management broker at United Securities, told Al Arabiya that the Qatari market had fallen about 17% before Sunday’s session and that investors saw an opportunity in it, given Qatar’s role as a mediator in the region.
In Kuwait, the all-share index fell 67.85 points, or 0.80%, to 8,386.14, the Qatar News Agency reported. Trading volume reached 186.6 million shares in 13,786 deals worth 40.6 million dinars.
Kuwait’s premier market index lost 66.34 points, or 0.75%, to 8,826.21, while the main market index dropped 91.58 points, or 1.08%, to 8,363.27. The Main 50 index fell 92.15 points, or 0.98%, to 9,331.47.
Oman’s MSX 30 index declined 53.7 points, or 0.73%, to 7,292.53, from 7,346.19 in the previous session, the Oman News Agency reported. Trading value rose 0.8% to 42.45 million rials.
Non-Omani investors bought shares worth 4.806 million rials and sold shares worth 4.988 million rials, leaving net non-Omani investment down by about 182,000 rials, the agency said.
Stock exchanges in the United Arab Emirates are closed on Sundays.
